H&B, Author at Hutchinson and Bloodgood LLP

Technology

10 Ways Cloud Computing Can Benefit Manufacturers

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April 16, 2024

The quest for skilled laborers As the end of the first quarter of the 21st century nears, cloud computing has become an integral part of the modern-day manufacturing environment, growing in leaps and bounds over the last decade. Indeed, the use of this technology has spurred efficiency in manufacturing production. In a nutshell, cloud computing uses […]

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Payroll

7 common payroll risks for small to midsize businesses

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April 10, 2024

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If your company has been in business for a while, you may not pay much attention to your payroll system so long as it’s running smoothly. But don’t get too complacent. Major payroll errors can pop up unexpectedly — creating huge disruptions costing time and money to fix, and, perhaps worst of all, compromising the […]

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Tax Planning

Keep these 3 issues in mind after you file your return

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April 9, 2024

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The tax filing deadline for 2023 tax returns is April 15 this year. If you need more time, you can file for an extension until October 15. In either case, once your 2023 tax return has been successfully filed with the IRS, there may still be some issues to bear in mind. Here are three […]

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Tax Planning

FAQs on the General Business Credit

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April 8, 2024

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The general business credit (GBC) may help certain small businesses cut their federal income tax obligations significantly. This is an “umbrella” credit that encompasses various business-related credits, which are far more valuable than tax deductions. While deductions reduce only your taxable income, tax credits directly offset your tax liability on a dollar-for-dollar basis. Understanding the GBC […]

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Tax Planning

The tax deadline is almost here: File for an extension if you’re not ready

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April 4, 2024

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The April 15 tax filing deadline is right around the corner. However, you might not be ready to file. Sometimes, it’s not possible to gather your tax information by the due date. If you need more time, you should file for an extension on Form 4868. An extension will give you until October 15 to […]

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Technology

A general look at generative AI for businesses

April 3, 2024

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If you follow the news, you’ve probably heard a lot about artificial intelligence (AI) and how it’s slowly and steadily expanding into various aspects of our lives. One widely cited example is ChatGPT, an AI “chatbot” that can engage in conversations with users and create coherently written articles, as well as other content, when prompted. […]

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Tax Planning

Should Married Couples File Jointly or Separately?

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April 1, 2024

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Once you’re married, you have two options when it comes to filing your annual federal income tax return — married filing jointly or married filing separately. While some couples may find it more tax-efficient to file separately, joint filing often is more advantageous. Benefits of Filing Jointly Married couples who file their federal income tax return […]

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Nonprofit Organizations

6 Potential Tax Deductions for Nonprofits

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March 29, 2024

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In general, organizations that qualify under Section 501(c)(3) of the tax code are exempt from paying federal income tax. However, some not-for-profits may seek to offset unrelated business income tax (UBIT) or income tax in years they don’t otherwise qualify for the exemption. In such cases, tax deductions can be extremely valuable. Here are six common […]

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Technology

Generative AI Can Help Prevent, Detect and Investigate Fraud

March 28, 2024

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You may already be familiar with artificial intelligence (AI) and even use it in business applications. What about generative AI (Gen AI)? Gen AI typically is used to create new content (such as text, images, code and video) from raw data and includes such popular systems as ChatGPT and DALL-E. Gen AI can also help reduce, […]

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Business Planning & Consulting

Business owners, your financial statements are trying to tell you something

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March 27, 2024

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Business owners are commonly and rightfully urged to regularly generate financial statements in compliance with Generally Accepted Accounting Principles (GAAP). One reason why is external users of financial statements, such as lenders and investors, place greater trust in financial reporting done under the rigorous standards of GAAP. But that’s not the only reason. GAAP-compliant financial statements […]

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Author: H&B

10 Ways Cloud Computing Can Benefit Manufacturers

7 common payroll risks for small to midsize businesses

Keep these 3 issues in mind after you file your return

FAQs on the General Business Credit

The tax deadline is almost here: File for an extension if you’re not ready

A general look at generative AI for businesses

Should Married Couples File Jointly or Separately?

6 Potential Tax Deductions for Nonprofits

Generative AI Can Help Prevent, Detect and Investigate Fraud

Business owners, your financial statements are trying to tell you something

A Comprehensive Approach to Goal-Based Financial Planning